BPCL long opportunity

27 Kas 2022

BPCL

Stock -> BPCL
TimeFrame -> Weekly

Hello all!

BPCL has been moving in a channel since Sep 2017. Its came back to its lower trendline, took support, bounced off and now has broken trendline 1 with good volumes. This makes for a good opportunity to go long!

Risk-averse traders should wait for a strong closing above the nearest swing high (yellow box). The stock will start trading above its 50-week EMA after it crosses the swing high and thus the probability of success would be much higher

*NOT A CALL*

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